Regulation of P2P in the United States

2018-11-01 来源: 51due教员组 类别: 更多范文

下面为大家整理一篇优秀的assignment代写范文- Regulation
of P2P in the United States，供大家参考学习，这篇论文讨论了美国P2P的监管。SEC是美国P2P网络平台的监管核心。在美国如果想要运营P2P平台，前置条件就是要到SEC注册登记。另外，如果P2P要在某一州具体开展P2P业务，还要在该州证券监督管理机构再次注册登记，从而获得在该州范围内开展业务的资格。整体来说，SEC对P2P网络借贷平台的监管采用先注册后运营销售的模式。

P2P
online lending refers to the funds borrowed through Internet platforms by
"individuals and individuals" and "individuals and
individuals". The biggest difference between P2P online lending and
traditional lending lies in the fact that it realizes the lending of funds
through Internet platforms, which makes the lending no longer restricted by
geographical space, greatly expands the scope of lending, and to some extent
saves the cost of information communication. Especially since the rapid and
substantial development of Internet finance in 2013, P2P, as an important part
of Internet finance, has also made great progress. According to the survey of
the home of Internet lending, there were about 5,881 P2P platforms in China by
the end of January 2017. However, China's P2P network lending is still in the
initial stage of development, and there are many problems. For example, there
is a lack of third-party supervision, the establishment of capital pools,
embezzlement and even running away.

The
regulation of P2P online lending is becoming more and more standard and strict.
In July 2015, ten ministries and commissions including the people's bank of
China jointly issued the guidance on promoting the healthy development of
Internet finance, which defined the business boundary for the development of
Internet finance. In August 2016, four ministries and commissions, including
the China banking regulatory commission, issued the interim measures on the
management of business activities of online lending information intermediaries,
which regulated the subjects and procedures of the intermediary business of
online lending. In February this year, the CBRC issued the "guidelines on
the deposit and management of online lending funds" to further strengthen
the supervision of online lending funds. More "prohibitive actions"
were stipulated for the deposit and management of funds, so as to make the
process of P2P lending transparent and prevent online lending platforms from
misappropriating customer funds.

In
2005, Prpsper, the first P2P online lending company in the United States, began
operating online. In 2014, Lengding Club, the world's first listed P2P lending
company, was listed on the nyse. In 2015, the P2P online lending company Sofi
raised $1 billion in financing. The United States is the most developed country
in P2P lending. Currently, the United States has basically formed a P2P
regulatory system with multiple departments under separate supervision and
state and federal supervision. Among them, the securities and exchange
commission is the core regulatory force, while the federal deposit insurance
corporation, federal trade commission, consumer financial protection bureau and
other regulatory agencies are important forces protecting investors. The
overall regulatory thinking is to protect investors' legal rights and regulate
the healthy and sustainable development of the industry.

As
mentioned above, SEC is the core of P2P network platform supervision in the
United States. Specifically, if you want to operate P2P platforms in the United
States, the precondition is to register with the SEC. The materials to be
submitted for registration include the issuance specification, the most basic
terms of earnings, investment risk disclosure and risk control measures, and
the specific operation process of online lending platforms. In addition, if P2P
is to carry out P2P business in a certain state, it shall register again with
the securities regulatory authority of the state, so as to obtain the
qualification of conducting business within the state. In general, the
regulation of P2P lending platforms by the SEC adopts the model of first
registration and then operation and sales.

In
the United States, both federal and state laws and regulations on P2P lending
platforms directly or indirectly reflect the protection of investors' legal
rights and interests. Many laws, such as the fair credit opportunity law and
the fair credit report law, clearly point out that P2P online lending companies
must treat all consumers fairly and equally. In the dodd - frank Wall Street
reform and consumer protection act, the United States to establish a consumer
financial protection agency, this is the first in the history of federal agency
for financial consumers' legitimate rights and interests protection, according
to the provisions of the council have larger discretion, is responsible for
implement relevant laws and regulations, financial consumption may accept
financial consumer complaints disputes, directly facing the financial consumers
to protect their legitimate rights and interests. Meanwhile, the regulator pays
great attention to the protection of the privacy of financial consumers,
stipulates that the information of consumers shall not be disclosed to
irrelevant parties, and requires P2P online lending platforms to strengthen
data security management.

The
United States requires P2P lending platforms to strictly enforce disclosure
responsibilities. When releasing product information, information should be
fully disclosed, including all the contract text, specific risks of the
project, basic information of the platform itself, and warning of possible
risks of the platform. At the same time, according to the requirements, P2P online
lending platforms need to submit relevant information of platform and product
operation and management to the SEC every day. Financial consumers can query
such information through P2P online lending platforms or obtain relevant
information through the SEC.

The
United States has a sound credit system, including three basic aspects: one is
the collection of personal credit information, assessment agency, namely the
personal credit investigation company; Second, individual credit
"consumers", financial institutions, employers and other departments;
Three is the individual credit data generation and the supervisor, namely the
individual. A credit reporting system based on the fair credit reporting act
and the graham-richey Billy act was established in the United States early on.
Both laws specify the collection, evaluation and use of personal information.
The whole credit system, which is for information privacy, people made a clear
and detailed specification, such as, think credit information query for information
query, need to sign an agreement and information provider, first specify the
specific scope of the use, beyond the scope of use or sell the information to
the third person, will be severely punished.

In
addition to paying great attention to information disclosure, American
regulation also protects financial consumers through proper standards for
investors. For example, some states require P2P investors to have no less than
their annual income, or the total amount of household assets, or set a cap on maximum
investment in P2P. By eliminating investments with poor risk tolerance, the
risk of financial products or services is matched with the bearing capacity of
investors themselves.